Da Nang authorities dismantled a cryptocurrency fraud ring estimated to be worth over 2 trillion VND.

Da Nang city police have arrested eight individuals involved in a nationwide cryptocurrency fraud case; the amount of cryptocurrency stolen is estimated to be equivalent to approximately 2 trillion VND.

On December 16th, representatives of the Da Nang City Police announced that, in accordance with the order of the Minister of Public Security regarding the implementation of a high-intensity campaign to attack and suppress crime, the Da Nang City Police successfully dismantled a criminal ring that used high technology to defraud people through cryptocurrency-based multi-level marketing schemes on a nationwide scale.

Earlier on December 15th, the Da Nang City Police, in coordination with the Cyber ​​Security and High-Tech Crime Prevention Department (Ministry of Public Security) and the Da Nang City People's Procuracy, deployed forces to arrest 8 suspects in a case led by Huynh Duc Van (33 years old, residing in Hoa Cuong ward, Da Nang city).

Initial investigations revealed that, starting in early 2020, Huynh Duc Van colluded with three individuals in Ho Chi Minh City and several others to create a "phantom project" involving a private cryptocurrency called "DRK." They then promoted it on social media with false information to entice investors and embezzle their assets.

The suspect is Huynh Duc Van (33 years old, residing in Hoa Cuong ward, Da Nang city). (Source: Da Nang Police)

By the end of 2021, having attracted many investors, the accused allegedly "shut down" the DRK project, deleting the website, fan page, and related groups to embezzle all the investors' money, then converting it into Vietnamese currency for personal use.

Based on documents and electronic data collected during the investigation, the investigating agency determined that the suspects had stolen over 1,880 BTC, over 37,000 ETH, and nearly 2.7 million USDT, equivalent to approximately 2 trillion VND, in 2021.

Through legal proceedings, the Police Investigation Agency has temporarily suspended transactions involving bank accounts and real estate worth over 600 billion VND. Authorities have initiated a criminal case, indicted and temporarily detained Huynh Duc Van and seven related individuals; and are urging other related individuals to surrender quickly to receive leniency.

Evidence seized during the operation. (Source: Da Nang Police)

The Da Nang City Police Department requests that citizens who have been victims of Huynh Duc Van and his accomplices report to the Office of the Criminal Investigation Agency of the Da Nang City Police Department (47 Ly Tu Trong Street, Hai Chau Ward, Da Nang City) for resolution according to regulations.

(Vietnam+)

Source: https://www.vietnamplus.vn/da-nang-triet-pha-duong-day-lua-dao-tien-ao-tri-gia-uoc-tinh-hon-2000-ty-dong-post1083373.vnp